🔹 Asset: Solana (SOL/USDT Perpetual Futures)
🔹 Timeframe: 2-Hour
🔹 Exchange: MEXC
📊 Market Overview:
Solana has bounced from a key support zone after a strong breakdown, signaling a potential shift in momentum. The structure has confirmed a Break of Structure (BOS), which may lead to further upside movement before facing resistance.
📈 Key Technical Insights:
✅ Support Holding: The price has reacted well to the $130 - $135 support zone, leading to a bounce.
✅ Mini Reversal Area ($150 - $155): This zone could act as a minor resistance before a deeper retracement.
✅ Main Reversal Area ($165 - $175): A significant supply zone where selling pressure may increase.
📌 Trading Plan:
🔹 Bullish Scenario: If SOL holds above the support zone and breaks past the Mini Reversal Area ($150 - $155) with volume, a further move toward the Main Reversal Area ($165 - $175) is likely.
🔹 Bearish Scenario: If SOL struggles to break past $150 - $155, a retest of the support zone ($130 - $135) could happen.
🔹 Risk Management: Watch for rejection wicks or bearish divergence before entering short positions.
📢 Final Thoughts:
📌 A strong move above $155 could trigger further upside momentum.
📌 Traders should watch price action closely at the marked reversal areas.
📌 Be patient, wait for confirmation, and manage risk accordingly!
⚡ Trade smart and stay ahead of the market! 🚀
🔹 Timeframe: 2-Hour
🔹 Exchange: MEXC
📊 Market Overview:
Solana has bounced from a key support zone after a strong breakdown, signaling a potential shift in momentum. The structure has confirmed a Break of Structure (BOS), which may lead to further upside movement before facing resistance.
📈 Key Technical Insights:
✅ Support Holding: The price has reacted well to the $130 - $135 support zone, leading to a bounce.
✅ Mini Reversal Area ($150 - $155): This zone could act as a minor resistance before a deeper retracement.
✅ Main Reversal Area ($165 - $175): A significant supply zone where selling pressure may increase.
📌 Trading Plan:
🔹 Bullish Scenario: If SOL holds above the support zone and breaks past the Mini Reversal Area ($150 - $155) with volume, a further move toward the Main Reversal Area ($165 - $175) is likely.
🔹 Bearish Scenario: If SOL struggles to break past $150 - $155, a retest of the support zone ($130 - $135) could happen.
🔹 Risk Management: Watch for rejection wicks or bearish divergence before entering short positions.
📢 Final Thoughts:
📌 A strong move above $155 could trigger further upside momentum.
📌 Traders should watch price action closely at the marked reversal areas.
📌 Be patient, wait for confirmation, and manage risk accordingly!
⚡ Trade smart and stay ahead of the market! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.